6 February 2023

Principality Commercial announce a landmark £50m loan for Pobl

Principality Commercial are proud to announce a landmark £50m loan for the Welsh not-for-profit social housing provider Pobl Group. 

The deal comes as the Principality Commercial team celebrate 20 years in business, over which time they’ve built up an impressive portfolio of projects across Wales and England, including housing developments and business sites. 

The loan demonstrates Principality’s focus to support the creation of quality affordable and sustainable houses, and will aid Pobl’s ambition to create 10,000 much needed new energy efficient affordable homes across Wales by 2030. The properties will be built with the latest green technology and building materials, in line with the Group’s Net Zero standard.

Across these developments, Pobl’s mixed tenure approach will allow a range of ownership options, including affordable rented, outright sales and shared ownership, helping more people into the home they desire in great places where people want to live.  

Julie-Ann Haines, Principality Building Society’s CEO, said: “We’re delighted to be able to support the creation of new homes in Wales with this £50m loan. Helping more individuals to get a place to call home is a key focus for our business, and we’re looking forward to working with Pobl, who share our vision of creating high quality homes where people can flourish, whilst keeping a focus on sustainable materials and energy to protect the environment.”

Amanda Davies, Pobl Group’s CEO, said: “Demand for quality, affordable homes in Wales is high and will only continue to grow, so we are extremely grateful for the support we are receiving from Principality, which will help Pobl towards our ambition of creating 10,000 new homes this decade. We are making an energy efficient home and a great place to live the new normal, building and investing in beautiful places where people and communities thrive and are proud to call home.”

Published: 06/02/2023